Solana Community Sends $QUANT to $80M After Gen Z Kid Rugs for $30k

Memecoin madness continues as teenage rugger on livestream goes viral.

Published: Nov 20, 2024 at 17:38

Solana’s memecoin casino continues to provide endless entertainment and life-changing gains for lucky traders.

A teenage token creator has become the latest onchain sensation, after questionable behaviour in the trenches led the Solana community to revenge-trade his coin to an $82M market cap.

How did the Gen Z Quant Trader rise to notoriety?

Traders Take Revenge on pump.fun Rugger

The infamous Gen Z Quant Trader first went viral after flexing his memecoin gains on social media. According to an 𝕏 post that received over 2.7M views, Solana Plays started his crypto influencer career after flexing over $2,000 worth of profits before going to school.

Leveraging his newfound fame, Solana Plays launched his own token, Gen Z Quant ($QUANT) on pump.fun, Solana’s favorite no-code token deployer.

During the token’s livestream, Solana Plays unceremoniously dumped his entire holdings on traders, netting $30,000 in the process and making rude hand gestures to his audience.

Undaunted, the Solana memecoin community rallied around the rugpull and initiated one of the ecosystem’s famous CTOs (Community TakeOver). Within hours, Solana’s maniacal memecoin traders pushed $QUANT to an all-time high market capitalization of $82M in one of the network’s biggest ever collective revenge-trades.

At their peak, Solana Plays' 51M $QUANT tokens were valued at over $4M, representing a $3.97M fumble for the token creator.

Gen Z Quant Trader Launches More Coins

After seeing the viral success of his first token, Solana Plays was inspired to keep playing the game and continue launching new memecoins.

Feigning a plea for forgiveness, Solana Plays' second launch, $SORRY, was meant to repair the trader’s image and attempt to recreate $QUANT’s success. However, Solana Plays betrayed investors once again, dumping his tokens on unsuspecting traders.

In response to Solana Plays controversial antics, ecosystem contributors are voicing concerns surrounding network participants’ behavior.

David Packham, co-founder and CEO of Chintai Exchange, a multichain RWA project, drew parallels between Solana Plays and Sam Bankman-Fried, the chief orchestrator of the $8B FTX scandal.

quant launches

After rugging $SORRY, Solana Plays took advantage of the perennial Founder’s Pets meta and launched a final token inspired by his dog, $LUCY. While the original profile only suggests three coins have been created, Solana Plays could also be launching coins from alternative profiles.

At press time, $QUANT has accumulated over $346M in trading volume and sits at a market capitalization of $32M.

Unfortunately for Solana Plays, disgruntled traders and social media sleuths uncovered the trader’s personal details, including his name, location, and school. This set off a chain of separate memecoins related to Solana Play’s life.

After a turbulent 24 hours, Solana Plays appears to be stepping away from the meme markets. However, it is still unclear whether the Gen Z trader’s departure from the scene is genuine, or another attempt to dramatize his newfound fame.